By Michael Souza
PBN Staff Writer
According to a new study published by the Financial News Network online, Webster Financial is among the companies in the regional banks industry with the best relative performance.
The online magazine evaluated the industry and measured relative performance to find the top stocks. Relative outperformance is a bullish sign of underlying fundamental and technical strength.
Webster Financial ranked first with a gain of 3.82 percent; PrivateBancorp ranked second with a gain of 3.74 percent; and Western Alliance Bancorp ranked third with a gain of 1.76 percent.
Glacier Bancorp followed with a gain of 1.16 percent and First Commonwealth Financial rounded out the top five with a gain of 1.04 percent.
Webster Financial Corp. is the holding company for Webster Bank, located in Waterbury, Conn., and Webster Insurance. The Bank provides business and consumer banking, mortgage, insurance, trust, financial planning and investment services. Webster also offers asset-based lending, insurance-premium financing and equipment financing.